Cost of living and studying in Melbourne
Rising costs around the world are having a greater impact on decisions about where students choose to study. In Melbourne, international students can balance living and study expenses while gaining a quality education that leads to career opportunities worldwide.
Balancing study with the cost of living
Money plays a major role in where students choose to study. While this has always been important, rising costs worldwide are prompting many to think carefully about how to make their study goals achievable.
Key cost considerations include:
- higher tuition fees
- increased accommodation and rent
- day-to-day living expenses.
More than half of students who decided against studying overseas said tuition costs were too high, while over one third cited living costs as the main barrier.* This has made transparent information from universities – and careful financial planning – more important than ever. You need to be able to understand that the benefits of your education justify the cost.
Deakin can help you invest in your future
Deakin offers students flexible study options, clear fee details, a wide range of scholarships and affordable accommodation options to help make the cost of a high-quality more education manageable and a worthwhile part of a long-term investment in your future.
What does it cost to live in Melbourne?
The cost of living in Melbourne depends on where you choose to live. Inner-city areas tend to be more expensive, while outer suburbs such as Burwood (home to Deakin’s main Melbourne campus) offer more affordable accommodation and easy access to the city by public transport.
You can use the government's official Study Australia's cost of living calculator to estimate your weekly, fortnightly or yearly costs to cover housing, food, transport, utilities and entertainment.
Balancing cost and lifestyle
Although prices have risen in recent years, Melbourne remains more affordable in comparison to many global study hubs such as London (United Kingdom), Los Angeles or New York (USA).^ In Australia, it is also less expensive than Sydney. A wide range of accommodation options and the city's excellent public transport system support an affordable, high quality of life. And as a city known for education, many businesses from cafes to theatres offer generous student discounts help students manage their costs.
Balancing costs and careers
Affordability is just one part of the decision. Academic quality and career outcomes matter just as much. Australia’s universities are known for delivering education that connects learning with professional experience.
Deakin is the #1 university in the Australian state of Victoria for graduate employment, making it an ideal choice for students looking to get more from their degrees.
Our focus in on your employability. Through placements, industry projects, simulations, career education or global programs, you’ll gain practical experience and career confidence. And for added value, all students get lifetime career support through our DeakinTALENT career service.
Why study in Melbourne?
Melbourne offers you a diverse, welcoming community and strong links to leading employers, making it a top choice if you want both academic and lifestyle benefits. Ranked Australia’s best student city by QS Best Student Cities 2026, it continues to attract international students – 28% choose Australia as their first study destination, compared with 22% for the UK and 19% for the US.
The support and resources offered to international students, such as Deakin’s DUSA, Deakin Residence, DeakinActive and Student Services, made me feel confident that I would be well-supported during my academic journey.
Bachelor of Psychological Science
How can Deakin help me manage my costs?
Deakin supports students with affordable accommodation options, cost-management tools and access to services that make university life easier.
Many on-campus facilities, such as gyms, sporting facilities, health and wellbeing services, and student support programs, are included in your student fees, helping you get more value from your study experience.
Where can I find affordable places to live?
Students at the Melbourne Burwood Campus can access affordable on-campus accommodation close to transport and essential services. You can also choose to study at one of Deakin’s regional campuses in Geelong or Warrnambool, where rent, transport and living costs are typically lower.
Can I work while studying?
Yes. Through Deakin University’s career service DeakinTALENT and local employer networks, students can find part-time work that helps manage expenses while gaining real-world experience in the Australian job market. These opportunities make studying at Deakin both rewarding and financially sustainable.
What makes a Deakin degree worth the cost?
Deakin offers strong local and international industry connections, plus part-time work and internships to help you manage living costs while gaining valuable professional experience. Deakin’s programs focus on what matters most to you:
- career-ready skills
- affordable, cost-effective study
- practical, hands-on learning.
Every course is designed to help you graduate job-ready, so your investment in tuition pays off in real-world opportunities. You’ll leave with professional skills, industry networks and confidence to step into the workplace. With a Deakin degree, the long-term benefits – career prospects, employability and adaptability make it a smart, cost-effective investment in your future.
Study with Deakin in Melbourne – a smart investment for your future
As education costs rise around the world, students are choosing destinations that offer both affordability and quality, with degrees that open real career opportunities.
Melbourne gives you a safe, vibrant environment where study and lifestyle go hand in hand, while Deakin University complements this with practical, career-focused programs designed to make your investment in education truly worthwhile.
Find a course that fits your goals and your budget at Deakin
Frequently asked questions about cost of study in Melbourne
Tuition and student fees vary by institution. One thing to pay attention to when looking at annual costs is the length of the course. For example, at many Canadian universities a Bachelor of Nursing is a four-year program. At Deakin, you get the same quality of education in a three-year nursing course. That saves you a lot of money!
According to World Population Review, the cost of living in Australia is lower than the USA. For other countries that students often choose, such as Canada, United Kingdon and Germany, we are within two percentage points. But remember that at Deakin, most of our undergraduate courses are only three years compared to four years of study in other countries. This saves you a lot of money and gets you into a job and earning quicker.
Many students have part-time jobs in restaurants or shops. Wages for this type of work are typically higher in Australia than in many other countries. And Australia’s labour laws require employers to pay even more on evenings and weekends, which is when most students are available.
Rent is less expensive in Burwood and nearby suburbs like Box Hill and Camberwell than in the city centre. And you can ride your bicycle or walk to class to save on transport costs. If you don’t want to live on campus, our student accommodation services can help you find a place to live that fits your budget.
Deakin offers scholarships for both international and domestic students. Most are applied as discounts to your tuition fees so you pay us less. That means you have more money on hand for living expenses.
Choosing where to study is a huge decision. Cost has to be a factor. But we also advise you to weigh all the factors to make the right decision for you. Look at things like your lifestyle: Melbourne is ranked the #1 city for students in Australia and the most livable city in the world for reasons such as access to public transit and employment options. Those are worth considering for any student. Also think seriously about the university and how they think about your future. At Deakin, employability isn’t an add-on – it’s built in. Our degrees are designed so you graduate with career-ready skills that meet workforce demand globally.
Deakin references data from a range of government, higher education and reputable media sources. For more information, visit our University rankings page.
*IDP Emerging Futures 8 : Voice of International Student report (Oct 2025)
^Numbeo, Cost of living index 2026
